2020 pandemic economy

World's workers lost $3.5 trillion in wages amid pandemic: UN

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'Worsened significantly'The ILO also warned that the outlook for the final three months of 2020 had "worsened significantly" since its last report in June.The organisation had previously forecast that global working hours would be 4.9 percent lower in the fourth quarter than a year earlier, but said it now expected an 8.6 percent drop, which corresponds to 245 million full-time jobs.It explained that workers in developing and emerging economies, especially those in informal jobs, had been much more affected than in past crises.The ILO also pointed out that while many of the most stringent workplace closures have been relaxed, 94 percent of the world's workers were in countries where some sort of workplace restrictions remain in place.And.

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